Oil Ministry Achieves $1 Billion Surplus in 2010

Baghdad, 22 May 2010 - Aswat Al Iraq

Oil revenues in the first four months of 2010 reached $17 billion, exceeding by one billion the general budget’s expectations, spokesman for the oil ministry said on Friday.

“The oil ministry has exported 222.7 million barrels during the first four months of 2010, which achieved $17.218 billion with an average price of $75.6 per barrel,” Essam Jihad told Aswat al-Iraq news agency, pointing out that the ministry achieved a financial surplus of one billion dollars.

Jihad had said last Tuesday that Iraq’s revenues from oil exports in April have reached more than $4 billion after exporting 53 million barrels.

“The oil ministry has made $4.222 billion from exporting 53 barrels last month,” Jihad said, noting that the average price per barrel reached 79.66 dollar from the Basra oil.

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